- IPH has announced Watermark will integrate into the IP business Griffith Hack from April 2020
- The integrated companies will operate under the Griffith Hack brand
- This change is set to benefit the combined business’ offerings as well as the clients
- It’s expected this will bring annualised financial benefits of over $2 million from the 2021 financial year
- IPH shares have dropped slightly by 0.24 per cent and are trading for $8.21 each
IPH has announced Watermark will be integrated into IP service business, Griffith Hack, to create one firm under the Griffith Hack brand from April 2020.
The Watermark and Griffith Hack businesses were bought by IPH as part of the acquisition of Xenith IP Group in August this year.
Watermark is an intellectual property firm with offices in Sydney, Melbourne and Perth.
Also based in the same cities as Griffith Hack, a leading attorney specialising in intellectual property, trademarks and patents.
IPH Managing Director and CEO Dr Andrew Blattman said the integration will benefit the combined business, its clients and people.
“The integration will strengthen the combined business’ service offering, providing Griffith Hack clients with access to a deeper pool of IP experts in Australia,” Andrew said.
“While Watermark clients will benefit from access to Griffith Hack’s larger IP team, established systems and processes and an extended geographic footprint in Australia,” he added.
IPH claims to have a strong track record of successfully integrating businesses, such as the Spruson and Ferguson with Cullens and Fisher Adams Kelly Callinans, to realise strategic benefits.
Watermark will reportedly co-locate in Griffith Hack’s Melbourne, Sydney and Perth offices from April next year.
The ASX 200-listed company also expects the integration will provide annualised net financial benefits of between $2 and $2.5 million from the 2021 financial year.
IPH has advised the integration won’t impact its other group businesses including AJ Park, Glasshouse Advisory, Pizzeys, Practice Insight, Shelston IP, and Spruson and Ferguson.
IPH shares have dropped slightly by 0.24 per cent and are trading for $8.21 each at market close.